$1 million clipart rock NFT accidentally sold for less than a cent

15 March 2022

in Meta News

Reading Time: 2 mins read

NFTs are one of the most controversial tech things around at the moment, and for good reason. Artificial scarcity in digital spaces seems to be all the rage at the moment, and trading jpegs on the blockchain for stupid amounts of money is just as popular as ever, for some reason. But mistakes can still be made, even if it is by user error, and that’s how one NFT-rader got fractions of a cent for their rock jpeg that was valued at closer $1 million.

The world of crypto can be a tough one to navigate. There’s heaps of currencies, weird apes, unfathomable environmental impacts, and just a lot of confusion. Many game developers have straight up called out NFTs as a scam. The legitimacy of crytpo can be so bad that Steam found over 50% of transactions using bitcoins on its platform were fraudulent. It’s a scary crypto world out there, and not even crypto bro NFT aficionados are immune from it.

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Reported by Vice, Dino Dealer on Twitter is one such crypto trader that recently made the simple error. When listing their precious EtherRock NFT they erroneously put it up for 444 gwei instead of 444 eth. This is the difference between getting basically nothing or around $1 million USD. Once listed for the low low price, it was immediately purchased by a bot for the equivalent of someone whispering the word “money” from at least 100 kms away.

Dino Dealer posted about the event on Twitter, pleading at the end for snipers to show mercy. They also contacted the owner of the bot, hoping for a do-over but have received no reply. Because this is all blockchain, the transaction is available for anyone to see and smile at if they choose. Given it’s a very basic jpeg of a rock, it feels like the bot got about what it paid for anyway.

How’s your week?Mine? I just erroneously listed @etherrock #44 for 444 wei instead of 444 eth🤦‍♂️Bot sniped it in the same block and trying to flip for 234 ethIn one click my entire net worth of ~$1 million dollars, goneIs there any hope?Am I GMI?Can snipers show mercy? pic.twitter.com/yq9Itb2UkbMarch 10, 2022

EtherRock is a pretty quintessential example of NFTs. It’s a series of images of the same clipart rock with variations in colour, so a lot like the famous Ape images you might have seen, but literally just rocks. Or rock. The same rock. One has sold for the equivalent of $3.5 million USD. The worst part is you can’t even bang your head against one since it’s just a digital jpeg.

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